Form 4: Starbucks EVP Pilar Ramos Granted 16,200 RSUs

Starbucks' EVP and Chief Legal Officer, Pilar Ramos, was granted 16,200 restricted stock units, vesting over four years.

Summary

• Pilar Ramos, Executive Vice President and Chief Legal Officer of Starbucks Corp (SBUX), was granted 16,200 shares of common stock.
• The transaction date for this acquisition was November 11, 2025.
• The securities acquired are Restricted Stock Units (RSUs) with a transaction price of $0 per share, typical for a grant.
• Following this transaction, Pilar Ramos beneficially owns 16,200 shares of common stock.
• The RSUs will vest in four equal annual increments of 4,050 shares each, starting on November 11, 2026, and continuing on November 11, 2027, November 11, 2028, and November 11, 2029.

Sentiment

Score: 6

Explanation: The filing reports a routine executive compensation event (RSU grant). This is generally a neutral to slightly positive event as it aligns executive incentives with shareholder value and aids in retention, without indicating any immediate operational or financial performance changes.

Positives

• The grant of Restricted Stock Units (RSUs) aligns the executive's long-term interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• This RSU grant serves as a retention incentive for a key executive, the EVP and Chief Legal Officer, ensuring continuity in leadership and legal oversight.

Negatives

• The future vesting of these RSUs will result in a minor dilution of existing shareholder equity, though this is a standard component of executive compensation plans.

Future Outlook

The RSU grant indicates a long-term commitment to the executive, with vesting scheduled through November 2029, suggesting an expectation of continued service and contribution to the company's strategic objectives.

Industry Context

The grant of Restricted Stock Units (RSUs) to a senior executive like the Chief Legal Officer is a common practice in the retail and food & beverage industry, particularly for large, publicly traded companies like Starbucks. This form of equity compensation is widely used to attract, retain, and incentivize key talent by linking their personal wealth to the company's long-term performance, aligning executive interests with those of shareholders.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of executive compensation is a standard practice across major corporations, including peers in the consumer discretionary sector such as McDonald's (MCD), Coca-Cola (KO), and PepsiCo (PEP).
• The multi-year vesting schedule (four years) is typical for long-term incentive plans, designed to promote executive retention and sustained performance, comparable to programs at companies like Nike (NKE) or Apple (AAPL).
• The grant size of 16,200 shares for an EVP-level executive at a company of Starbucks' market capitalization is within the expected range for such roles, reflecting competitive compensation practices.

Stakeholder Impact

• Shareholders: Minor potential future dilution upon vesting of RSUs, but also benefits from enhanced executive alignment and retention.
• Employees: May signal stability in executive leadership and a commitment to long-term incentive programs for key personnel.

Next Steps

• The granted Restricted Stock Units will vest in four annual increments of 4,050 shares each on November 11, 2026, November 11, 2027, November 11, 2028, and November 11, 2029.

Key Dates

Keywords

Starbucks, SBUX, Pilar Ramos, Restricted Stock Units, RSU grant, executive compensation, insider transaction, Form 4, equity award